Why I’m Choosing Canara & SBI Over Private Banks — A Real Story, Not Paid Promotion

ICICI Bank has raised its MAB requirement for new savings accounts in metro and urban areas from ₹10,000 to ₹50,000 — a 400–500% increase.

For semi-urban areas, it’s now ₹25,000 (earlier ₹5,000), and for rural branches, ₹10,000 (earlier ₹2,500).

That’s a huge chunk of money locked up in your account — not earning much, just sitting idle to avoid penalty fees.

So I asked myself: Why not move to banks that give more flexibility, lower balances, and extra benefits?
That’s when I explored government banks — and found some real value-packed options.

🚀 Canara Bank Aspire — Zero MAB & Free Learning

If you’re a student, Canara Aspire Savings Account is a no-brainer:

• ₹0 MAB for students.

• For non-students:

  • Urban – ₹2,000

  • Semi-urban – ₹1,000

  • Rural – ₹500

The game-changer?
If you opt for their Coursera plan, MAB is ₹5,000 — but you get FREE Coursera courses worth ₹5,000/month.
Earlier, these courses cost ₹5,000/month — now they’re free.
Matlab paisa bhi bacha, skills bhi mile.

Other benefits:

• Education loan concessions

• Debit card offers (airport lounge, BookMyShow, Gaana, Swiggy)

• Smooth upgrade path to premium accounts later

🏦 SBI — India’s Trusted Giant

The State Bank of India (SBI) is everywhere — from big cities to rural villages.
Their basic savings account works for almost everyone.

Yes, queues can be long and the internet banking design feels outdated,
but in terms of trust, reach, and safety, SBI remains unmatched.

⚠ The Real Cons (No Sugarcoating)

Government banks aren’t perfect:

• Slower customer service compared to private banks

• Less modern online banking

But when it comes to low costs, deposit safety, and supporting the Indian banking system, they win hands down.

💡 My Verdict

With ICICI’s latest MAB hike, my decision is clear.

Government banks like Canara and SBI offer:

• Lower or zero MAB

• Free skill development (hello Coursera!)

• Government-backed deposit safety

Private banks may serve cappuccino in their branches,
but government banks give something far more valuable — peace of mind and more money in your pocket.

💬 Your Turn
Would you stick with a private bank for comfort, or move to a government bank for savings and benefits? Comment and let’s discuss.